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Katrina leaves devastation in its wake
Hurricane Katrina is still expected to be the most costly in US history with forecasts of up to $26bn in claims after the storm devastated Louisiana and halted offshore oil and gas production.
30 August 2005
Six new settlements for Equitas
Lloyd’s run-off vehicle Equitas has announced significant settlements with a further six policyholders totalling of $300mn. Among the signatories to the settlements announced today (30 August) are...
30 August 2005
Trenwick sues advisers and former directors
The liquidating trustees of collapsed Bemudian headquartered insurer Trenwick Group is suing its accountants, advisers and former directors for allegedly illegally diverting funds to ensure they were all paid.
30 August 2005
Rod Fox to make Benfield return
Rod Fox, the former chief executive of Benfield’s US arm, is set to return to operations at the reinsurance broker after being granted a leave of absence in the spring following allegations concerning his private life.
30 August 2005
Illium close to Munich Re consortium deal
Lloyd’s insurer Illium has reached a provisional agreement to expand its 2006 capacity through a coinsurance arrangement with Great Lakes UK, a subsidiary of world’s largest reinsurer Munich Re.
30 August 2005
Europe hit by floods and fire
Extreme weather conditions hit Europe last week with insured claims for flood damage in Switzerland alone estimated at $395mn by Swiss Re.
30 August 2005
Kiln forecasts hide no surprises
Lloyd’s insurer Kiln forecasts for the years 2003 and 2004 were released on 24 August and contained no real surprises.
30 August 2005
Beazley benefits under new reporting standards
When Lloyd’s insurer Beazley Group plc reports its 2005 half results on 7 September, they are likely to be higher than expected at over £35mn because of the impact of accounting changes, the company explained last week.
30 August 2005
Massachusetts A-G investigates White Mountains subsidiary
Bermuda-based (re)insurer White Mountains Insurance Group Ltd revealed last week that the Massachusetts attorney general is investigating one of its units.
30 August 2005
Rate rises possible after spate of air crashes
Last week’s Peruvian air crash will cost insurers £3mn but the repercussions of the five air crashes this month are multiplying.
30 August 2005
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